BEIJING (Asian Metal) 14 Jun 19 – With an annual production capacity of 240t of ammonium metavanadate 99.5%min, Jinfeng Alloy Materials Co., Ltd. suspended production due to relocation of plant and expects to resume production at the end of this year, a source told Asian Metal.
“We only produce high-purity ammonium metavanadate 99.5%min, which is of higher added value and different from industry grade ammonium metavanadate 98%min. According to local industry development plan, we need to move to the industrial park. According to local industry development plan, we need to move to the industrial park. Prices for high-purity ammonium metavanadate vary a lot. Sales prices for the material directly depend on contents of other elements in addition to vanadium, but all of them are taking industry grade ammonium metavanadate prices for reference,” a source from the company noted.
The company is located in Nanyang, Henan, in which there are a large number of small vanadium companies due to rich local bauxite reserves. Relocation to industrial park will enhance the competitiveness of local vanadium companies.
Currently, mainstream prices for Chinese ammonium metavanadate 98%min are RMB120,000-123,000/t (USD17,338-17,771/t) Inc-VAT EXW D/P, up by RMB13,000/t (USD1,878/t) from last week. As most market participants are optimistic about market outlook, it’s predicted that Chinese ammonium metavanadate prices would continue to go up slightly in the coming week to narrow losses of producers.
www.asianmetal.com
